Blended compositions and methods for the production of thermoset compositions of soy meal, which has been treated to remove non-thermoplastic materials associated with soy beans, and natural rubber. Also provided is a method for the preparation of a prepared granular soy meal by blowing a gas through a stream of granular natural soy meal to remove hulls and cellulose fiber materials which are lighter than the granular soy meal to provide the prepared granular soy meal for the compositions. The compositions are elastic and can be used in place of rubber bands and the like.